The Hindu Business Line : Egypt looks to source cotton yarn from India

Coimbatore, June 16 Egypt, which has hitherto been sourcing its cotton yarn supplies from East Asia, is now looking to source its requirement from India.

Mr Sherif Shousha, President, and Mr Gamal Ibrahim, Director of Global Buying Services (GBS) in Cairo, Egypt were in the city to initiate business with some cotton yarn manufacturers here. They were reluctant to divulge details.

For knitting

They maintained that GBS would start to develop cotton piece-dyed fabric in partnership with a major player in this region.

“We are looking at cotton yarn for knitting,” he added.

GBS plans to source 10 container loads (200 tonnes) of yarn every month.

It currently procures cotton yarn from different regions, uses the facilities in Egypt for converting them into fabric and readymade garments and supplies them to mega marts such as Carrefour and Wal-Mart among others.

“We have good garment manufacturing facilities there,” he said

Good quality

While Mr Shousha admitted that GBS was trying to replace the Far East by sourcing its requirement of yarn supplies from India because of short transit time and quality consistency, he said “the rupee has strengthened dramatically in the last six to eight months.

There is a lot of competition even within India, but we are convinced about the quality here. Price is the only pain point at this juncture.”

He, however, said that GBS was keen to source from India and was bullish on the India market.

Local units preferred to remain tight-lipped about this development.

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